Now the question is?
What comes next?
I have mapped the most relevant support and resistance zones, as well as a linear regression channel, and time at mode targets.
The 4h chart shows a strong uptrend en course, but price has encountered a significant level of overhead resistance. On the daily we can see that the mode or most frequent price is rising, which is a bullish signal.
I still think we're going to retest the previous 18 day mode at 0.95739, and will look to go long again if possible.
Will update with my entry. I still have 25% of my original position running, looking to close it at the top of the rally.
See related ideas for an EW count courtesy of my partner Nick Coulby, as well as my previous setups.
Good luck and have a nice week,
Ivan.
What comes next?
I have mapped the most relevant support and resistance zones, as well as a linear regression channel, and time at mode targets.
The 4h chart shows a strong uptrend en course, but price has encountered a significant level of overhead resistance. On the daily we can see that the mode or most frequent price is rising, which is a bullish signal.
I still think we're going to retest the previous 18 day mode at 0.95739, and will look to go long again if possible.
Will update with my entry. I still have 25% of my original position running, looking to close it at the top of the rally.
See related ideas for an EW count courtesy of my partner Nick Coulby, as well as my previous setups.
Good luck and have a nice week,
Ivan.
Trade closed: target reached
